MADIGAN,R. 40 ILCS 5/16-132 from Ch. 108 1/2, par. 16-132 40 ILCS 5/16-133 from Ch. 108 1/2, par. 16-133 Amends the Downstate Teacher Article of the Illinois Pension Code to allow retirement at any age with 34 years of service. Effective immediately. PENSION NOTE (Pension Laws Commission) The System's actuary estimates SB 511 would increase the accrued liability of TRS by $250 million. However, it should be noted that the fiscal impact of SB 511 includes two compon- ents - $63 million is the cost of the existing Early Retirement Option (ERO), available through 2005, and $187 million is the additional cost for a permanent 34-and-out provision. FEB-20-2001 S FIRST READING FEB-20-2001 S REFERRED TO SENATE RULES COMMITTEE RULES FEB-28-2001 S ASSIGNED TO COMMITTEE INS & PENS. MAR-01-2001 S PENSION NOTE FILED AS INTRODUCED MAR-06-2001 S POSTPONED MAR-20-2001 S POSTPONED MAR-27-2001 S POSTPONED MAR-27-2001 S COMMITTEE INS & PENS. MAR-31-2001 S RE-REFERRED TO RULES COMM/RULE 3-9(A) RULES JAN-07-2003 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary